How does a cashless society screw the people?

[5.56NATO]

"With central bankers losing credibility left and right, and failing outright to boost the "wealth effect" no matter what they throw at it, the next big question is when will central planners around the world unveil the cashless society which is a necessary and sufficient condition to a regime of global NIRP.

And while in recent days we have seen op-eds by both Bloomberg and FT urging the banning of cash, the most disturbing development we have seen yet in the push for a cashless society has come from the following slide in a Morgan Stanley presentation, one in which the bank's head of EMEA equity research Huw van Steenis, pointed out the following...

One of the most surprising comments this year came from a closed session on fintech where I sat next to someone in policy circles who argued that we should move quickly to a cashless economy so that we could introduce negative rates well below 1% – as they were concerned that Larry Summers' secular stagnation was indeed playing out and we would be stuck with negative rates for a decade in Europe. They felt below (1.5)% depositors would start to hoard notes, leading to yet further complexities for monetary policy."
http://www.zerohedge.com/news/2016-0...entation-slide




Keep in mind that FT is a mouthpiece of House Rothschild as well as The Economist. One might ask what negative interest rates entail, well, they entail you paying the bank a percentage of your deposit rather than the bank paying you a percentage of your deposit. Also, a cashless system will allow absolute control over who eats and who doesn't, who pays their bills and who doesn't, who gets paid for work and who doesn't, control Hitler could only have dreamed of.

FT predicted this day with this piece from the 80s;
https://socioecohistory.wordpress.co...mist-magazine/
Note the date on the coin.

[sevlex]

There was a classic scene in Max Headroom where Edison Carter is declared persona non grata. His entire life is encoded on a usb-type device. The gov shuts it off and he suddenly has no money and can't even get into his own apartment.

This is what the "one-worlders" want.

[5.56NATO]

There was a classic scene in Max Headroom where Edison Carter is declared persona non grata. His entire life is encoded on a usb-type device. The gov shuts it off and he suddenly has no money and can't even get into his own apartment.

This is what the "one-worlders" want.

Case in point.

[O.S.O.K.]

What is needed is a reset to the gold/silver standard. The banksters hate this as it is beyond their control to manipulate. But that is what is needed. We never should have moved away from it.

Further, this should be handled by the Fed Gov, not the so called Federal Reserve Bank.

Things are definitely getting interesting... I hesitate to say we will soon see an economic collapse because I would have expected it many years ago... but things are getting interesting.

[Viking350]

Negative rates also suggest they would pay you to borrow money.

[Richard Simmons]

Aren't the Illuminati involved in this too?

[5.56NATO]

Aren't the Illuminati involved in this too?

Not sure, have you verified luminumnazis exist? I'll await your report.



Meanwhile far away from Simmons denial ranch;
"The Cypriot spectacle was fairly large, however, and that tends to undermine the legitimacy of rulership. So, it is much better to have no ATMs and no cash at all. There would be no lines of angry people talking to each other, only isolated losers with no recourse, licking their wounds while the talking heads on television tell them to stay calm and watch the flashing images.

Negative interest rates would give the banks 100% control over your purchases. They could, even in the worst pinch, allow you to purchase food while freezing the rest of your money. The average person would have no recourse and would simply be robbed… but very smoothly and with no human face to blame on.

Negative interest rates mean that your bank account shrinks day by day, automatically. Your $1000 in January becomes $950 by December. And where does that money go? To the banks, of course, and to the government. They syphon your money away, drip by drip, and there’s nothing you can do about it. This accomplishes several things for them at once:

It finances government, limitlessly and automatically. Forget tax filings; they can just take as they please.

It pays off the bad debt of the big banks. (And there are oceans of debt.)

It forces you to spend everything you’ve got, as soon as you get it. (Otherwise it will shrink.)

It gives the system full control over your financial life. Everything is monitored, everything is tracked, and every single transaction must be approved by them (or not). If they decide they don’t like you, you’re instantly reduced to begging."
http://www.freemansperspective.com/b...-serfdom-time/

[5.56NATO]

Negative rates also suggest they would pay you to borrow money.

Oh that would be nice wouldn't it? But everyone knows the banksters aren't fair, it only works one way - theirs.

[Richard Simmons]

Not sure, have you verified luminumnazis exist? I'll await your report.



Meanwhile far away from Simmons denial ranch;
"The Cypriot spectacle was fairly large, however, and that tends to undermine the legitimacy of rulership. So, it is much better to have no ATMs and no cash at all. There would be no lines of angry people talking to each other, only isolated losers with no recourse, licking their wounds while the talking heads on television tell them to stay calm and watch the flashing images.

Negative interest rates would give the banks 100% control over your purchases. They could, even in the worst pinch, allow you to purchase food while freezing the rest of your money. The average person would have no recourse and would simply be robbed… but very smoothly and with no human face to blame on.

Negative interest rates mean that your bank account shrinks day by day, automatically. Your $1000 in January becomes $950 by December. And where does that money go? To the banks, of course, and to the government. They syphon your money away, drip by drip, and there’s nothing you can do about it. This accomplishes several things for them at once:

It finances government, limitlessly and automatically. Forget tax filings; they can just take as they please.

It pays off the bad debt of the big banks. (And there are oceans of debt.)

It forces you to spend everything you’ve got, as soon as you get it. (Otherwise it will shrink.)

It gives the system full control over your financial life. Everything is monitored, everything is tracked, and every single transaction must be approved by them (or not). If they decide they don’t like you, you’re instantly reduced to begging."
http://www.freemansperspective.com/b...-serfdom-time/

I searched your old posts and going by those I'd say yes, the Illuminati do exist. The lizard people are still iffy.

[davepool]

I searched your old posts and going by those I'd say yes, the Illuminati do exist. The lizard people are still iffy.

I don't know, have you seen any recent photos of nancy pelosi? looks like she's about ready to burst out of her human disguise.

[Richard Simmons]

I don't know, have you seen any recent photos of nancy pelosi? looks like she's about ready to burst out of her human disguise.

You're right. She does look pretty alien. The human body can only tolerate so much Botox before it starts to turn on itself.

[5.56NATO]

Going cashless is getting more support from the experts on corruption;

"Larry Summers’ salvo against cash



Having destroyed the known world and all hope of financial recovery, Summers now wants to destroy cash. This time he’s making a surgical strike, targeting just Benjamin Franklin. The hundred-dollar bill, he claims, is primarily a tool of the corrupt. (Now, I have to admit that Larry is not outside of his expertise when it comes to knowing about the corrupt.) Summers claims that Ben and the 500-euro note are a “boon to corruption and crime.” He wants to see both eradicated.

In his national plea, Summers references former Standard Chartered CEO, Peter Sands, who said only a week ago that ditching Ben would “deter tax evasion, financial crime, terrorism and corruption.” In Larry’s own words, lynching ol’ Ben would “make the world a better place.”"
http://thegreatrecession.info/blog/l...s-at-it-again/

[5.56NATO]

And fresh news on the cashless society front;
Oh No! Not the 100! – The Plot to get rid of the $100 bill. Heck, maybe get rid of the $50 bill, too.
http://investmentwatchblog.com/oh-no...e-50-bill-too/

The Mark of the Beast?
http://www.jsmineset.com/2016/02/18/...-of-the-beast/

[5.56NATO]

The move to a cashless society must have an overbearing excuse, a reason why people will accept it along with the absolute totalitarian control it entails. A global crash could be one such excuse, wether fabricated or accidental, as well as war, famine, pestilence, pretty much any global or national disaster. Odd thing is apparently people are betting on the market tanking just like they did in 08, and if they prove correct will come out with a tidy profit;
http://www.zerohedge.com/news/2016-0...e-lehman-level

[imanaknut]

In the wonderful move to online banking, online payments, and online transfer of funds, we now have identity theft, something that was very rare when we had to mail checks.

Lately I've stopped using my credit card for every day purchases and just hit the bank when needed to replenish my cash supply. Paying with cash I don't have to worry about skimming devices, or remote card readers, or those wonderful people who have figured out how to hack into the card readers of retailers. Lately with cyber crime, crime does pay.

[O.S.O.K.]

Bitcoin is looking better now... didn't crash after that last thread a while back about being hacked or something.... currently at $437/coin up from $370 last week.

The reason I mention Bitcoin is that it's also beyond the bank's control and so far, anonymous.

If a cashless system is foist upon us, Bitcoin and the other cyber currencies may be the only way to avoid big brother tracking every transaction you conduct. Think about it. They'd be able to track every gun and ammo purchase... defacto registration.

[FunkyPertwee]

Bit coin is off the block-chain, yo.

But of course, that would be a free market solution, and we all know how unpopular that sort of thing is with both parties these days, so expect it to be cracked down on.

[5.56NATO]

The War on Cash: A Country by Country Guide

And an example close to home;
"CANADA – In 2007 the Canadian government stopped allowing payment of taxes in cash at government service centers. In 2010 Passport Canada followed suit. In 2011 56% of Canadians polled said they were happy to live in a bankster-controlled cashless society so the country killed the penny in 2012 and the Royal Canadian Mint started pimping the “MintChip” as a new form of electronic payment that will be “better than cash.” The Mint ended the program in 2014 but the Great White North is still on track to be a cashless society in the coming years."
https://www.corbettreport.com/the-wa...country-guide/


I've seen a video of some guy here in the US with a pile of hundreds trying to pay his mortgage and his bank refuses to accept it.

[Phil125]

Not going cashless should be right up there with the 1st and 2nd amendments of things we should protect.

[5.56NATO]

Cash Is The Currency Of Freedom

As Fed inflates away dollar's value, government gains more control to manipulate taxpayers and savers

Former Treasury secretary Larry Summers wants to get rid of the $100 bill. But I think he has it exactly backward. I think we need to restore the $500 and $1000 bills. And the reason is that people like Larry Summers have done a horrible job.
http://www.zerohedge.com/news/2016-0...rrency-freedom